The top 10 wealthiest cities in America

The gap between the rich and poor has never been more apparent. To see how median wages compare across the country, researchers at ConsumersAdvocate.org analyzed the latest census data to reveal the top 10 wealthiest cities in the U.S.

Intro

According to the U.S. Census Bureau, the median household income for Americans is $55,322, with the poverty threshold defined as $12,228 for an individual, $15,569 for a couple, and $24,563 for a family of four. From 2012 to 2016, it was estimated that more than 12% of Americans were living below the poverty line.

With income inequality on the rise, minimum wage laws have become a hot-button issue – many claiming it should be raised to $15 per hour (roughly $30,000 annually for full-time work) in order to provide a “living wage.” At the start of this year, for example, 11 states passed legislation to raise their minimum wage.

Despite these efforts, the gap between the rich and poor has never been more apparent. To see how median wages compare across the country, researchers at ConsumersAdvocate.org analyzed the latest census data and found that the top 10 wealthiest cities have household incomes that are more than three times the national average.

Methodology

Data is from the U.S. Census Bureau’s American Community Survey 2016 release of 5-year estimates and cities with populations under 20,000 were excluded from the list. “Median Home Value” only includes owner-occupied units.

10. Colleyville, Texas

A wealthy suburb of the Dallas/Fort Worth area, Colleyville was originally a small farm town in the 19th century. Today, bolstered by the economic growth of its urban neighbors, Colleyville enjoys a rare combination of high salaries and low living costs. Its median home price, for example, is the lowest of any city on this list.

9. Westport, Connecticut

Located less than 50 miles from New York City, Westport is part of Connecticut’s famous “Gold Coast,” a stretch of coastline along the Long Island Sound that boasts several cities with enormous wealth. Financial services play a large role in the town’s economy.

8. Saratoga, California

Not to be confused with Saratoga Springs in NY, a famous horse-racing venue, this Saratoga sits at the western edge of Silicon Valley in California. The proximity to tech giants such as Apple, Google, and Facebook attracts top talent – and their families – to Saratoga, further enriching the economy and excellent school systems. Saratoga has the second-highest median home value on this list.

7. Wellesley, Massachusetts

Part of the greater Boston area, Wellesley is home to several institutions of higher learning, including the famous all-women’s Wellesley College and the entrepreneurial Babson College. The residents are also well educated with more than 83% of the population 25 and over having earned a bachelor’s degree or higher.

6. Potomac, Maryland

Sharing its name with the river that flows through our nation’s capital, Potomac is a suburb of Washington, D.C. Not surprisingly, many Potomac residents commute to Washington to work in sectors such as technology, healthcare, and government. Potomac is also the second most populous city on the list.

5. Los Altos, California

Situated in the northern part of Silicon Valley, Los Altos is a haven for workers in the technology sector – and the high salaries that come with it. The seven square mile city prides itself on its tree-lined streets, sustainability, and small-village atmosphere. Los Altos also has the highest median home value on this list.

4. Southlake, Texas

Like Colleyville, Southlake is another suburb of the Dallas/Fort Worth area. This affluent town benefits from the economic prosperity of the larger cities’ major industries, which include aviation, life sciences, and natural gas, but also maintains its smaller, community feel. At $586,400, Southlake has the second-lowest median home value on this list.

3. McLean, Virginia

Home to diplomats, politicians, and high-ranking executives, McLean is located just outside of Washington, D.C. While many McLean residents commute to the nation’s capital for work, others work for local firms such as USA Today, Capital One, Booz Allen Hamilton, and Freddie Mac, which have offices based in McLean. McLean is also the most populous city on the list.

2. University Park, Texas

Named after its proximity to Southern Methodist University, University Park is located in the upper north end of Dallas. The city is well educated with more than 85% of residents over the age of 25 having a bachelor’s degree or higher.

1. Darien, Connecticut

A coastal town about 50 miles away from New York City, Darien has the lowest population and the highest median household income on the list. Private beaches, yacht clubs, mansions, and more are features of this fabulously wealthy suburb.

Watch this discussion.Stop watching this discussion.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd,
racist or sexually-oriented language.PLEASE TURN OFF YOUR CAPS LOCK.Don't Threaten. Threats of harming another
person will not be tolerated.Be Truthful. Don't knowingly lie about anyone
or anything.Be Nice. No racism, sexism or any sort of -ism
that is degrading to another person.Be Proactive. Use the 'Report' link on
each comment to let us know of abusive posts.Share with Us. We'd love to hear eyewitness
accounts, the history behind an article.

Recommended

Vacation photographs often capture perfect moments in favorite places. Send us your best ones by July 16 for a chance to win up to $1,000 in our Destinations Photo Contest. The top photographs submitted will also be featured in a national publication reaching more than 1 million households.